Vedanta sign agreements to develop semiconductor manufacturing

Vedanta Group announced that it has secured agreements with 30 Japanese technology companies to build an Indian semiconductor and glass display manufacturing ecosystem. The agreements were signed last week at the Vedanta-Avanstrate Business Partners Summit 2022 in Tokyo, Japan. More than 200 delegates from over 100 worldwide corporations attended the event.

The company is devoted to making India a manufacturing hub for electronics. It is more concerned with leading the creation of the electronics industry ecosystem than with transferring technologies.

One of the top oil and gas companies in the world, Vedanta Ltd., a subsidiary of Vedanta Resources Ltd., has operations in India, South Africa, and Namibia in the areas of oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium, as well as power.

Vedanta Ltd., an oil-to-metals conglomerate, and Taiwan’s Foxconn signed a contract with the Gujarat government in September for an investment of 1.54 trillion rupees to establish a semiconductor and display FAB manufacturing unit in the state. To build the semiconductor plants, Vedanta received both financial and non-financial subsidies from Gujarat, such as capital expenditure subsidies and affordable electricity.

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